CoreWeave shares jumped 13% in premarket trading on Wednesday after the artificial intelligence (AI) cloud computing company reported better-than-expected third-quarter results and raised its financial outlook for 2026. The strong results helped ease some investor concerns about the company’s growth and funding.
However, companies in the AI cloud computing business , including CoreWeave, Nebius and IREN, have faced growing investor scrutiny this month. Investors have been questioning whether the huge spending on artificial intelligence can continue and whether these companies can maintain their growth. CoreWeave’s revenue surged 168% to $3.7 billion in the third quarter, compared with the same period last year. Similarly, analysts polled by LSEG had expected CoreWeave’s 2026 revenue to reach $12.86 billion. The company’s new revenue forecast of $13 billion to $13.3 billion is above that estimate, according to CNBC.
CoreWeave CEO Michael Intrator described the three months ended September 30 as a “breakout quarter” for the company. He said the strong growth was supported by several sources of funding, according to CNBC. The company announced the revenue growth in a statement on Tuesday.
